After the 1978 Economic Reform, China's economic development has been on a fast track ever since. Later on, the successful accession into the WTO in 2001 accelerated China's economic transformation and made it more integrated with the world. Today, as the second-largest economy in the world, China has earned herself a leading role on the world stage beyond dispute. This book provides readers with answers to why and how China functions as a leader in the world economy.This book surveys China's economy in four parts — economic institutions, economic problems, economic policies and economic analyses. It is based on the author's latest findings from his scholarly research on China's economy, his involvement with China's economic reform and development, and his personal contacts with Chinese academics, entrepreneurs, government officials and ordinary citizens for over thirty years. The book is written in a style accessible to the general readers, since most chapters are based on articles published in three major Chinese newspapers, of which the author is a columnist. It can also serve as a reference book for professionals, an authoritative guide for general readers and a supplementary text for university students. The author uses it as a supplementary text for his course on the Chinese economy at Princeton University.Contents:Economic Institutions:Introduction: An Overview of China's EconomyThree Important Players of China's EconomyIs Chinese Capitalism Different?Economic Planning in ChinaRole of Economists in China's Economic DevelopmentFree to Choose in ChinaChinese and American Economic Institutions Reflecting Cultural DifferencesOutflow of Capital and China's DiplomacyEconomic Relations Between Brazil and ChinaIndia's Model of Rapid Economic DevelopmentWill the Russian Economy Grow Rapidly?Comparing Economic Developments in Taiwan and Mainland ChinaEconomic Issues:Problems Facing the Chinese Economic SystemDirections for Economics Education and Research in ChinaImportant Lessons from Studying the Chinese EconomyUS Housing Bubble and Economic DownturnWill Consumption Expenditures in China Increase Rapidly?From Guangzhou Opera House to Issues of Economic DevelopmentLessons from the Current American Great RecessionEconomic Policies:How to Improve University Education in China?How to Manage a University Well?How to Improve the Efficiency of State Enterprises?Carry Out the Open Door Policy FurtherHow to Stop Inflation in China?How to Solve the Problems of China's Inflation and the American Recession?China's Aging PopulationChina's Environmental Policy: A Critical SurveyQuantitative Economic Studies:Note on a Model of Chinese National Income DeterminationLessons from Studying a Simple Macroeconomic Model for ChinaShanghai Stock Price Movements Reflecting China's GlobalizationCo-Movements of Shanghai and New York Stock Prices by Time-Varying RegressionsReadership: General readers, academics, professionals, students interested in China's economy.